Total To Boost Nigeria’s Oil Output By 200,000 bpd Next Year

Total oil yesterday said that it would boost Nigeria’s daily oil production by 200,000 barrels from 2018.

Managing director of Total upstream, Mr Nicolas Terraz said that the additional barrels would come from the company’s multi-billion dollar Egina Field Development.

Executive director, Corporate Affairs and Services of Total, Mr Biodun Afolabi, spoke on behalf of Terraz at the on-going 2017 Nigerian Annual International Conference and Exhibition of the Society of Petroleum Engineers in Lagos

Eyes Of Lagos gathered that, According to the chief executive officer, the Egina Field Development will come on stream in 2018.

The managing director, who made the disclosure at the, restated the company’s unflinchingly commitment to the future of Nigeria.

“The company is at present along the value chain from upstream to the downstream sector where Total is a leader, with close to 550 service stations across the length and breadth of Nigeria. In the last five years, the Total Group has invested US$10 billion in the Nigerian oil and gas sector.

“Today, we have expertise and strong positions in the onshore, offshore and deep offshore. Our Egina Field Development, which is near completion, is expected to add 200,000 barrels per day to Nigeria’s output, when it comes on stream in 2018,’’ he said.

Meanwhile, contrary to the reports of its indebted to the Nigerian National Petroleum Corporation (NNPC) and Petroleum Products Marketing Company (PPMC), Total Nigeria Plc, said it was not and never indebted to both entities, outside the ordinary course of business.